Sudden rise in Bitcoin causes bullish rejection

[Cryptomint 433]

These post should be locked and new post should be introduced. I have mad many unique topics but the moderators deleted post...

[Syedbesharat 5423]

This could be cause by some unknown wallet transaction who made transaction at any exchange and make BTC price high. But the transaction was one time made and not pump more BTC .Sometimes the sleeping investors made transactions in unusual time and cause fluctuations but most of the time the whales perform those kind of actions at BTC. 

[Brushless4500KV 4214]

With each sudden rise, two groups of people get excited. The first group are traders who sell immediately to enjoy fast profit. They just can't wait to get more because they believe they can buy again with the next fall. The second group are long term holders who get greedy and prefer to wait until they can sell at maximum profit because they only sell once and since it only happens one time, they want the highest earning. The competition between these groups will make it harder for bitcoin to overcome resistance levels one after another.

[cryptovlek 2597]

On 12/5/2019 at 9:46 PM, Matundi said:

It is important to note that hours before the strong bullish movement, Bitcoin whales made really amazing transactions , possibly positioning themselves with large and new purchases. 

Some whales made big mistakes for many years and in the end they sold very low at $4k in panic. Big mistakes and many of them were not being helping for many years. These were late whales that came and gone. Now it is whales that hold and don't just trade whale to whale and play with the market. We are in bullish market and having done with them was better for Bitcoin.

[bogdanoff 3173]

The price last year and in the beginnin of 2020 very difficult to profit from trading. It was big whales dumping on every opportunity and waiting to rebuy lower. Trading was unprofitable and investing was dangerous. Bitcoin did a big dive and it was millions of BTC that changed hands then with Grayscale and some banks buying for long term.

[Serbberq 724]

Bitcoin price is rising time to time, and this year bitcoin have rises up to 19k USD, those that holds from last year have make good profits from it. 

[Mella 3680]

I am understand this bullish rejection, it is seen in many times in chart and I am observe and trade according to some of these that are sudden bullish spikes followed by rejection, this happened lately too at 19600 that was sudden upside and then drop. I am think it is done with intention to pump price by a whale wanting to sell a lot and make the most out of it.

[Fixfin 2569]

This technical analysis is for the trading section, although it contains some interesting facts that we lately don't see happening at the same scale as after the halving in May we are see a more stable price for Bitcoin with less drops that easily get covered and an organic rise in price that comes from higher demand and less trading speculation.

[Sykkuno 2887]

2019 was another bad year in my opinion, that while it had a good start from April to July, it then went all down to bottom again, lucky we were close to the Bitcoin halving and this saved the altcoins too as they were all going to zero the way they didn't care.

[yonkii 3205]

I tried to understand a few things about EMA and RSI but I think that it would be better with a chart as the movements are very important and without having a chart to see the actual price action we can't visualise it easily with just text and numbers.

[zhoutong 2188]

Bitcoin one year later stands at 19K, more than 100% higher from last year prices. Holding only would have helped probably more than trading and left other possibilities open to use our times. I don't say that day trading is not important and can't help some make money but from what I know statistically most traders lose money.

[setifien 1016]

Well, I think btc price movements are really hard to predict, it does not often follow mathematical algorithms and indexes, there is a complicated network of factors that intervene in a comlex way to make btc price goes up/down 

[percare 3192]

Day trading technical analysis is not my thing anymore, I have moved into trading long term and sticking with long position for months and if I'm selling I always rebuy everything back on a dip. Although I can't sell Bitcoin right now. It can go down but if it breaks out then it will be hard to stop.

[Froshk 1828]

It's a normal practice to halt all forms of selling or exit from investment when bitcoin prices srarts to rise suddenly after a little drop, 

[Khan 1414]

I am thinking the same as the sudden rise in price just disturbed the market and nothing else and all the coins are now become un-stable and the So called Minex is also going down. 

[Gluttony 1775]

I am quite confused to what do you mean by bullish rejection since you also said about the sudden rise of the bitcoin. Yes, it is not continuously moving upward to the charts of price ranges in the market but it still manages to increase its price range back before and now it suddenly become nearly to twenty thousand as the peak of the price range of bitcoin in the market. I might say the rejection will really come since the price range of the bitcoin as of now should not remain as it is because there would be a lot of users who might get a problem with their assets because of this.

[yonkii 3205]

40 minutes ago, Gluttony said:

I am quite confused to what do you mean by bullish rejection since you also said about the sudden rise of the bitcoin

I think that he meant the bullish sentiment was short lived and rejected by big selling power that made price go lower instead. It is something that happened lately when price dropped a lot from the new all time high to 17K and even lower for a while. Probably he didn't use correct words.

[Abdul1168782 572]

Good work and absolutely good project. And i know this that the price is going up. But don't know the reason for the rising of BTC but this was very helpful to me and Many others like me. Thank you for this mate.

[khan22 3478]

On 12/6/2019 at 12:46 AM, Matundi said:

A sharp rise in the price of Bitcoin seen yesterday, December 4, reached USD 7,750, however, the force was quickly lost.

 

What many thought would be the beginning of a deep recovery of the price of Bitcoin, was only a movement of high volatility and little force.

Yesterday Wednesday, at 1:25 p.m. UTC, BTC merchants witnessed a strong movement, capable of causing a positive return of just over 7% in just 6 minutes, momentarily touching USD 7,772 in the Bitstamp exchange, and USDT 7,750 in Binance .

 

Why did Bitcoin rise yesterday?

In recent days, Bitcoin initiated a bullish transition that we hope will be able to push the price back towards USD 8,450.

Before the sudden rise, the price was making smaller and lower lows, but they were never able to effectively break the support of USD 7,300. 

The constant decrease in volume during this backward movement, and the previous bullish control, supported the increase in volatility of the sudden movement seen yesterday. 

From the fundamental scope, the reason is not immediately clear, however, the low prices for which Bitcoin was around, could be the main cause; This also caused the feeling of extreme fear to increase , a situation that investors generally take advantage of to make large purchases thanks to the excellent prices achieved. 

It is important to note that hours before the strong bullish movement, Bitcoin whales made really amazing transactions , possibly positioning themselves with large and new purchases. 

The batch of large transactions on December 4 began at dawn with a 43.564 BTC; Minutes later, 57,577 BTC, equivalent to more than 400 million dollars, were also sent to an unknown wallet.

Hours later, 2 large similar transactions were cause for alert; one for 56,277 BTC, and another for 55,877 BTC. 

Technical analysis of the current situation of Bitcoin. Daily Temporality:

From the graph of the price of Bitcoin vs the US Dollar with daily candles, the scenario has become totally bearish , after the recent rise will end up forming a candle known as an inverted hammer, which consists of a small body candle and a large wick , demonstrating bullish rejection, and consequently, greater likelihood of a subsequent bearish movement. 

Yesterday's candle also closed using the exponential moving average of 8 and simple 18 as dynamic resistances, respecting the bearish cross that still holds in this season. 

The RSI remains below level 50, which supports a bearish scenario for the following hours.

 

 

The body of the bullish candle causing the volatile rise has already been completely wrapped by a bassist. 

The space left by the strong wick of rejection may be filled in the next few hours, however we could see a bearish movement capable of reaching USD 6,800 again starting from the current price. 

The EMA of 8 and the SMA of 18 are making continuous crossings, product of the consolidation in which the price of Bitcoin is found. 

The RSI is above 50, which could support a movement that fills the space left by the recent wick before a subsequent bearish movement. 

The 1-hour candlestick chart shows a clear consolidation, and the immediate loss of strength of the volatile bullish movement seen yesterday. 

The simple moving average of 200 periods is operating as resistance throughout the clear accumulation period that is going through the price; while the moving averages of 8 and 18 periods are making constant false signals of crossings. Meanwhile, the RSI is still above 50. 

When the Bitcoin rises suddenly than that time it means that a great investment is in this coin or any country will make an announcement about the crypto market favor becasue at the good news the Bitcoin make a great high movement with these reasons.

[Nicole018 4548]

The past years trend of Bitcoins price movements are definitely repeating now. The technical analysis of this cryptocurrency shows it would definitely reach its all time high by the end of this year. The question is when is the Bitcoin crash is going to happen? there are still many users who are holding onto their Bitcoins in the hope that it would still continue even after this year.

[Msh9 84]

The rise in currencies recently caused some imbalance and tension in this encryption, and people became very afraid and did not know what they would do in order not to cause them to lose and their balance value became low.

[m7md 0]

The popularity that Bitcoin enjoys and the demand for it increases dramatically, leading to a rapid increase in prices and growth, as the cryptocurrency markets and their volatility depend on the speculations that take place on them. 

[Quickbee 26]

Bitcoin market like other markets have regular fluctuations. Buyers may turn sellers and sellers may turn buyers. So even if the market turns bullish, it need not remain so.

[teebasas 3018]

Since the price of cryptocurrencies is dictated by demand and supply, I assume the price is increasing because the market has seen an increase in demand.

[selfmade 7]

Well  when people panic to buy or sell there is no stopping them, crypto market is mostly moved by panic that is how smart people become rich from cryptocurrencies.